A trader known as 0x430 flipped $5k to $670k on EtherVista in 48 hours sparking debate and raising concerns about potential insider trading within the EtherVista (VISTA) ecosystem.
The story began with 0x430 investing $5,000 in the initial launch of EtherVista, securing a significant 5% stake in the project. Within a mere 48 hours, this initial investment ballooned into a staggering $670,000 profit, a return exceeding 130 times the initial capital.
However, the phenomenal growth has been met with skepticism from members of the crypto community on platforms like X (formerly Twitter).
Furthermore, skeptics point to the timing and execution of 0x430’s actions, highlighting the unusual distribution of VISTA holdings across seven different wallets before the anticipated pump.
Additionally, they argue, it suggests a deliberate strategy to manipulate the market and cash out on insider knowledge of the impending price surge.
Traders’ Huge Profit on EtherVista Raises Discontent
One X user succinctly summarized the prevailing sentiment: “Only an insider will put 5K in a new token and then wait for a few days for it to pump.” Another echoed this sentiment, directly addressing a prominent crypto-intelligence platform, ArkhamIntel: “He is not a trader, that address belongs to Dev normal users can’t possibly make money like this without insider information.”
The allegations of insider trading are a serious concern, as they undermine the integrity and fairness of the cryptocurrency market. If proven, such actions would not only damage the reputation of the EtherVista project but also raise broader questions about transparency and accountability within the wider crypto ecosystem.
It is crucial to acknowledge that these allegations remain unproven. However, the speed and magnitude of 0x430’s profits, combined with the strategic distribution of tokens raise concerns.
Another Trader Made $20 Million
In another instance of cryptocurrency creating instant millionaires, a trader cashed out $20 million after investing just $1.69K into the SUNDOG token within six days, according to on-chain data.
The fortunate trader, known as TT4S5, was among the early investors in SunDog. Back then, TT4S5 purchased 104.33 million tokens for $1.69K, distributed across seven wallets. The asset’s value rose to approximately $19.52 million.
